Leasing activity is improving in many of the company’s markets. Funds from operations (FFO) are expected to increase to $2.82 in 2013, up from $2.72 in 2012. The stock has a dividend yield of 5%.

HIW is at the apex of a right triangle and volume is picking up in what appears to be a buildup prior to a breakout. Recently it flashed a buy signal from our proprietary Collins-Bollinger Reversal (CBR) indicator, and its MACD issued a buy signal last week.

The target for HIW is $36, and combined with its generous dividend could provide an annual return of more than 6%. HIW’s long-term target is $40-plus.